Investors Confront PIMCO Exec Over $8.5B BofA Deal Talks

Law360, New York (June 7, 2013, 6:28 PM EDT) -- An attorney for investors challenging an $8.5 billion Bank of America Corp. mortgage-backed securities settlement grilled a Pacific Investment Management Co. executive during a New York trial Friday, insisting that the securities' trustee had only grudgingly cooperated in negotiations.

American International Group Inc. and other investors challenging the deal have argued that $8.5 billion isn't enough money and they don't know enough about how the deal was negotiated between Bank of America, a group of 22 institutional investors who hold some of the securities and the...
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